Bitcoin trading above Rs 53 lakh

Cryptocurrency prices continue to be in the green on November 9. The global cryptocurrency market cap is Rs 215.78 lakh crores, a 2.77 percent increase over the last day, while the total crypto market volume over the last 24 hours is Rs 9,01,845 crores, which makes a 29.18 percent increase. Bitcoin and Ether made record peaks in the Asia session on November 9 as enthusiasm for cryptocurrency adoption and fears about inflation lent support to the asset class. Bitcoin rose as far as Rs 53,000 and ether, the second-biggest cryptocurrency by market value, hit Rs 3,79,000. Both have more than doubled since June and added nearly 70 percent against the dollar since the start of October. Bitcoin's price is currently Rs 53,54,600 and its dominance is currently 43.63 percent, an increase of 0.26 percent over the day. Read full here.

Crypto rally lifts Ether to new record, Bitcoin to near 3-week high

Bitcoin rose to a two-and-a-half-week peak on Monday and ether climbed to a fresh record as cryptocurrencies ride higher on a wave of momentum, flows, favourable news and inflation fears. Bitcoin was last up about 3 percent at $65,121 and ether, which underpins the Ethereum network, sat at a record top of $4,711. Ether is up 57 percent since the start of October and bitcoin about 50 percent as investors have cheered last month’s launch of a US futures-based Bitcoin exchange-traded fund and sought exposure to an asset class sometimes regarded as an inflation hedge. Read details here.

Centre likely to move modified cryptocurrency bill at start of Parliament's Winter Session

The Centre is likely to move a modified bill on cryptocurrency at the start of Parliament's Winter Session (November 29 to December 23), CNBC TV-18 reported on November 8. Sources told the news channel that finance ministry officials are working towards modifying the proposed cryptocurrency legislation. An earlier draft of the bill proposed a ban on the use of the digital currency in India. The finance ministry officials are trying to "fast track" the modified cryptocurrency bill, the report said. Take a look.

Government likely to take ‘middle path’ on crypto bill

The government is likely to take a “middle path” on cryptocurrencies as it finalises a digital assets bill that may be tabled in the upcoming winter session of Parliament, The Economic Times has reported about the keenly watched piece of legislation as cryptocurrency gains popularity among young Indians. “A balance has to be found,” the report cites a person as saying, adding that a final call on the details of the proposed law would be taken shortly. “A middle path that balances the concerns of all stakeholders is more likely.” Read more here.